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1st LD Writethru: Tokyo stocks end nearly flat as gains erased ahead of Fed minutes

Xinhua,February 21, 2018 Adjust font size:

TOKYO, Feb. 21 (Xinhua) -- Tokyo stocks ended nearly flat Wednesday after gains made on a weaker yen versus the U.S. dollar were erased as investors hit the sidelines ahead of the release of the U.S. Federal Reserve's minutes on its latest policy-setting meeting due out later in the day.

The 225-issue Nikkei Stock Average added 45.71 points, or 0.21 percent, from Tuesday to end the day at 21,970.81.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, edged down 0.84 point, or 0.05 percent, to end at 1,761.61.

Local brokers said that buying on the back of the yen's retreat against the U.S. dollar in early trade saw exporter issues lifted which buoyed the broader market.

In later trade, however, after the Nikkei had added 200 points, gains were pared and the index turned negative before ending essentially flat as investors hit the sidelines ahead of the release of the Fed's latest policy minutes later in the day.

Market strategists here said that investors were keen to see if there would be any insights into the planned number of interest rate hikes in the coming year as well as the Fed's view on inflation.

By the close of play, glass, electric machinery and miscellaneous product-linked issues comprised those that gained the most, while insurance, securities and bank-oriented shares led those that declined the most.

Rising issues outpaced falling ones by 1,087 to 897 on the First Section, while 82 ended unchanged.

On the main section on Wednesday, 1,382.02 million shares changed hands, rising from Tuesday's volume of 1,236.82 million shares.

The turnover on the third trading day of the week came to 2,686.2 billion yen (24.92 billion U.S. dollars). Enditem

 

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